Becoming a Satellite Manufacturer
There are numerous advantages of becoming a satellite Manufacturer. The U.S. Defense Department and the aerospace industry will benefit from new manufacturing technologies. Moreover, a reliable satellite is important for space exploration missions. In July 2021, Virgin Orbit launched seven satellites in the geostationary orbit. The company’s customers include the U.S. Defense Department, the Royal Netherlands Air Force, and Poland’s SatRevolution company. With the development of new technologies, the manufacturing industry can grow.
As the number of companies in the satellite manufacturing industry continues to rise, there are numerous challenges as well as opportunities. The market is expected to grow at a 3.5% CAGR during the forecast period of 2022 to 2027. The industry is facing a series of disruptions caused by the COVID-19 pandemic, including supply chain interruptions, shortage of workforce and business continuity issues. However, it is estimated that the global satellite manufacturing industry will grow at a moderately high rate over the next five years.
The global satellite manufacturing market is estimated to be worth $60.1 billion in 1999. Some of the leading manufacturers are Astrium, EADS, and SpaceX. The European market is growing at a faster rate than the U.S. market. While the U.S. dominates the global satellite manufacturing industry, there are several Asian players as well. Astrium, for example, is a German satellite manufacturer. Many European companies are launching work-at-home programs to increase their presence in the industry.
As the satellite manufacturing market grows, the supply chain will also undergo changes. The recent pandemic, which has changed the way people work, has led to a change in how suppliers and manufacturers are able to serve their customers. For instance, companies now have to reexamine their suppliers in the global satellite manufacturing industry. Many organizations have started work-from-home programs to create a work-from-home opportunity for their employees.
OHB System AG is a high-tech company that provides satellite systems to customers worldwide. OHB is a space system provider that has over 3000 employees and is part of the listed OHB SE group. It is a leading space solutions provider and specializes in small and medium-sized satellites. The company also offers systems for human space flight and aerial reconnaissance. This is how satellite manufacturing works. The production of a new satellite may take as long as five years.
The satellite manufacturing industry is growing rapidly. More than 1,000 satellites are orbiting the Earth. They typically have a lifespan of five to 15 years. A satellite manufacturer needs to keep in mind the global supply chain, which can be impacted by COVID. A large number of companies can still operate in the market despite the virus, but some may not be able to do so. This means a manufacturer should consider hiring a work-from-home worker or a remote worker in order to meet their needs.